Decreasing-cost conditions commonly happen in ______.
a. short intervals of input expansion
b. long intervals of input expansion
c. short intervals of output expansion
d. long intervals of output expansion
c. short intervals of output expansion
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The government of Eduland provided generous unemployment benefits to all the unemployed workers. However, the new government that came into power reduced the amount of unemployment insurance paid to each worker
This increased the average number of hours spent daily by unemployed workers in looking for jobs. This suggests that ________ exists in the labor market in Eduland. A) the problem of moral hazard B) a tragedy of the commons C) a pecuniary externality D) a positive externality
The price of a taco was $0.29 in 1970 and $1.09 in 2000. The CPI was 38.8 in 1970 and 172.2 in 2000. The 2000 price of a taco in 1970 dollars is:
A) $0.25. B) $0.29. C) $1.09. D) $4.84.
Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The result of Omegalon imposing anti-dumping tariffs on electric lawnmowers manufactured in Alphonia would most likely be:
A. an increased market share for Alphonian-manufactured electric lawnmowers in Omegalon. B. higher selling prices on electric lawnmowers in Omegalon. C. lower selling prices on electric lawnmowers in Alphonia. D. increased exports of electric lawnmowers from Alphonia.
Refer to the above figure. Suppose the economy is at E. A stronger dollar leads to a lower real GDP. Which of the aggregate supply curves must be the relevant curve after the change in the value of the dollar?
A. 1 B. 2 C. 4 D. 5